The government saw its borrowing cost drop recently when it sold a total of €100m in 13-week treasury bills at an average yield of 0.72%, the Public Debt Management Office said.

The government generated a fiscal surplus on a cash basis totalling €23.1m in the first five months of 2016, compared to a surplus of €94.8m in the respective period of 2015.

Senior executives of two energy companies with hydrocarbons concessions in the island’s Exclusive Economic Zone (EEZ) reiterated their commitment to their Cypriot operations.

Cyprus had the largest decrease in unemployment rates in the EU year-on-year in May 2016, down from 15.3% to 12.0%.

Commsoft, a world leader in aviation engineering and maintenance systems, announced that its industry-leading MRO IT system, OASES, has been selected by new Cyprus-based Orion Airways to support a fleet of Boeing 737-300 and 800 aircraft.

The Association of Cyprus Banks says it is cautiously optimistic on the future of the banking sector and the economy in 2016, urging at the same time the government and parliament to continue the necessary reforms and legislative changes in the economy.

Indian authorities will strike Cyprus off the South-Asian country’s blacklist after India and Cyprus successfully renegotiated their agreement for the avoidance of double taxation and prevention of fiscal evasion, the Finance Ministry said.

President Nicos Anastasiades is to have meetings with representatives of energy giants in the coming week as the July 22, 2016 deadline for expressions of interest in the third licensing round for hydrocarbons exploration draws near.

The Bank of Cyprus (BoC) recently announced the completion of the sale of Kermia Hotels Ltd and adjacent land for €26.5m.

The European Bank for Reconstruction and Development (EBRD) announced it is funding €10m in debt financing for the construction, development and operation of five solar photovoltaic parks with a total capacity of 11.9MWp in Cyprus